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Advisers selected for core sector projects

NEW DELHI: With the implementation of core infrastructure projects through the public-private partnership (PPP) route failing to take off, the Union Finance Ministry has selected 11 ‘transaction advisers,’ which include names such as PricewaterhouseCoopers (PwC) and Ernst & Young (E&Y) for providing assistance to the Centre and the States in initiating such ventures.

The 11-party panel, finalised last week through competitive bidding, is to chalk out technical and economic specifications for implementation of infrastructure projects before handing them over to private companies for development under the PPP route. In effect, these advisers would assist the Centre and the states in such a manner as to get the PPP projects rolling. The selection of advisers for development of the core sector is expected to provide a boost to implementation of projects, especially in roads, ports, airports and metro train services.

Apart from PwC and E&Y, the others selected by the Finance Ministry as advisers are the Abacus Legal Group, Crisil Infrastructure Advisory, Deloitte Touche Tohamatsu, Feedback Ventures and Grant Thornton of the UK, RITES, International Finance Corporation, Infrastructure Development Finance Company (IDFC) and Infrastructure Leasing & Financial Services (IL&FS).

For the Finance Ministry, the development of infrastructure projects through the PPP route not taking off thus far is a matter of concern, especially when the Government expects a sizable chunk of the $ 450-billion investment in the core sector to materialise through this joint participatory approach.

In fact, state governments have also seeking the services of an experts’ pool, especially to assist them in firming up the project details before offering them to private players for development.

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